Western Union Says It’s Ready for Crypto, Tests With Ripple and XRP-Based xRapid, ( ETN NOW NEEDS BIG PARTNERS )


#1

ETN now needs these big partnerships its been mentioning , ripple is eating up all the competition and marketshare in this space, theres no point having instant payment when were not getting top tier companies to use it ! Ripple is just eating up the space while ETN is still trying to get recognized out there in the world ! This isnt a message of fud im just wondering whats causing this delay were now entering a new year

My previous post was all about ETN being a better alternative than western Union , it seems as if the team at ripple just saw that video by Allabouttech with my graphic and just though humm lets just partner with Western Union. Oppertunity lost !!!


#2

It doesnt make sense to send crypto using wester union. IMO…
.u will have to pay blockchain fees and WU fees …why?
As a marketing stunt its good for Ripple but ask yoursel u will use this. ?


#3

A long one, but a few points to consider below - There is no reason to be fearful or to rush. Electroneum and Ripple’s XRP both have room to grow as digital currencies through different avenues.

Ripple has a great remittance plan and a fast hyper ledger which is why many entities (mostly banks) having been testing Ripple’s technology for over 3 years now. The ledger can be used without the incorporation of XRP, although Ripple claims that using XRP will save even more on remittance costs.

It does not mean that should Western Union incorporate the Ripple ledger AND XRP, that Western Union will not include other currencies since their business model depends heavily on transaction fees. Also another question comes to mind, that if the majority of the population will eventually have access to smartphones which will act as a tool for mining currency and enable individuals to transact seamlessly then what is the reason to use Western Union or any intermediary? Additionally, the majority of the unbanked population may not even be in close proximity to a Western Union location. The declining costs of smartphones and increase in adoption in line with a sort of network effect suggests that the unbanked population will probably in large numbers gain access to smartphones eventually. If Western Union does not pivot and their present business model does survive in the long run then it is to their advantage to include as many currencies as possible, including Electroneum.


#4

Thankyou for your through and thought out response i agree with you on actually everything you have said however i will only now hope that these up coming partnerships will enable ETN to scale to such heights , i believe ETN has all the pieces to the puzzle intact its just not spoken of in mainstream circles as much as ripple and that bothers me. Infact yesterday CNBC had a whole hour long conversation regarding crypto and all the panelists agreed that there should be a method to push into the mainstream and that they havent seen anything in crypto that has that usecase and that it would be so useful if there was a mobile app , they also went on to say there isnt any compliant cryptos for big business to easily work with and thats when my heart sank because they started to say well we believe ripple can create these usecase , When ETN already does it , its just so frustrating !!!

Given Ripple has been in the space a long while before ETN , Ripple exudes corporate , they even had Bill Clinton do a talk for them ! im not saying using a celeb is a good thing but having someone that is globaly recognized makes an impact ! But im digressing thats an entirely different issue altogether im sure Richard has something special up his sleeves !


#5

Well I’m sure the Bill Clinton speech didn’t come cheap… Etn will grow with mobile mining referrals and by partnering with telecoms and others!


#6

Celebrity endrosements usually result in a spike in interest and then it slowly bleeds out looking like a reverse hockey stick figure on a graph, especially when celebrities are paid for. If the growth happens organically then it would result in much more sustainable long term growth and adoption. In the case of Ripples Swell event, having Bill Clinton this year and last year Bill Gates and Ben Bernanke, it clearly shows that many prominent individuals are interested in the space which is good for the entire industry. Mass media and cnbc changes their opinion really fast so dont get too bothered by them and focus on the fundamentals.

Btw saw this short video from Western Union about Crypto floating around today: